It is hoped that there will be a studio facility operational by the end of June 2016.

Initially it is anticipated that there will be 70,000 sq feet of sound studios and it is hoped that a media cluster of companies providing services to support film and TV production will develop on site.

However, there is a possibility of 340,000 sq ft of sound studio and support facilities being developed at the site if a planning application for a change of use for the former Dell site is successful.

Speaking to the Irish Independent Limerick, council chief executive Conn Murray said that the local authority is to submit planning permission within the next number of days. "We will apply for permission by the end of this week or early next week, he said. "Then there will be investment to make sure that the space is of the quality required and then as soon as it is compliant we would like to see it developed."

It was originally believed that Ireland's biggest film firm, Ardmore Studios, which makes such shows as 'Penny Dreadful', would lease the facility from the council's development vehicle, Innovate Limerick.

Instead Ardmore's chief executive, Siún Ní Raghallaigh, and its joint owners, Ossie Kilkenny and producer John Kelleher, have become directors of Troy Studios which has been specifically established to work on projects for the Limerick facility. The development is expected to create 750 new jobs and contribute €70m to the local economy.